Chipotle Mexican Grill Inc, which has been under pressure from activist shareholder Bill Ackman, said on Friday four of its 12 directors would not stand for re-election to the burrito chain's board at its upcoming shareholder meeting.
“…a Bermuda-based reinsurer whose investment portfolio is run by Loeb, is cutting its management fee to 1.5% per year from 2%...” That’s Barrons talking about a decision by activist investor Dan Loeb’s Third Point to reduce fees for one of its funds. The Third Point Reinsurance--a retail vehicle--has slashed its management costs by 25%.
The big news this week is a report that activist hedge fund Starboard Value is pushing to remove the entire board of directors at Yahoo! Inc. The Wall Street Journal first reported on a letter that indicates Starboard is preparing to nominate nine directors to the company's board of directors, as the hedge fund remains discontent with the turnaround effort under CEO Marissa Mayer.
This would be the largest company to ever have its full board of directors replaced by an activist investor.
While Bill Ackman and Pershing Square get more engaged with General Growth Properties, shares of Procter & Gamble have quietly reached multi-year highs — this, despite some notable insider selling.
